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Old 10-31-2015, 07:05 AM   #21
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The next day, a company representative called Moore back and explained that he would receive a $5,000 cash advance for selling part of his pension. In exchange, Moore would have to pay the company $510 a month for five years — a total of $30,600.

If it were a typical loan, that would amount to $25,600 in interest — a rate of 512 percent.


It looks like the innumeracy wave pulls in journalists along with pensioners.
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Old 10-31-2015, 09:22 AM   #22
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Just more buzzards circling the financial nest eggs of retirees or soon to be retirees.

Kind of like what Willie Sutton was asked as to why he robbed banks, cause that's where the money is.
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Old 10-31-2015, 09:59 AM   #23
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Originally Posted by alaska55 View Post
many are not college educated What are you implying by that statement. I know many college educated people who can't manage money. Last time I checked no one is required to take personal finance classes in either HS or College. I know what you are implying. I not college educated so I guess that makes me blank. Fill in the blank with what ever you want.

I doubt the intent was there, at least I hope not...But FWIW, the three people I admire the most out of all my friends and family concerning handling their finances were not educated a day past high school.
Good finances isn't about general education level. It is about desire, discipline, and the monetary means to implement it.
Outside of a direct means to a job, education in and of itself doesn't really mean much on its own, to me anyways. A person can take a million personal finance courses and it will not do squat unless they want to do the dirty work required and implement it. People start smoking all the time and I doubt many started the habit because they were tricked into thinking it was as good for them as eating an apple. Im sure they received the "education" they are bad for you.


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Old 10-31-2015, 06:36 PM   #24
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Quote:
Originally Posted by alaska55 View Post
many are not college educated What are you implying by that statement. I know many college educated people who can't manage money. Last time I checked no one is required to take personal finance classes in either HS or College. I know what you are implying. I not college educated so I guess that makes me blank. Fill in the blank with what ever you want.
nothing. i meant absolutely nothing. make drama somewhere else, i'm out.
Jeez
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Old 10-31-2015, 07:20 PM   #25
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As long as there are reasonable disclosures and no fraud, people should be left alone to agree to whatever contracts they want. Why does the government have to be involved in protecting us from every possible bad decision we might make?

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Old 10-31-2015, 09:10 PM   #26
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How about if we assume that we are all acting in good faith when we post, even though we may not be particularly eloquent? It will surely avoid hurt feelings.
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Old 11-01-2015, 07:05 AM   #27
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Originally Posted by AnIntentionalRoad View Post
As long as there are reasonable disclosures and no fraud, people should be left alone to agree to whatever contracts they want. Why does the government have to be involved in protecting us from every possible bad decision we might make?

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I agree but there in lies the problem, too many times there is not full disclosure and sometimes people do not have the ability to understand the contracts they are signing, or the contracts are filled with so much fine print and mumbo jumbo that the signee takes the word of the person who is offering the deal.
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